News from New York State Department of Labor

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New York State's Job Count Shows Small Decline in February

ALBANY, NY (03/27/2008; 1407)(readMedia)-- New York State’s private sector job count decreased over the month by 6,800, or 0.1 percent, to 7,268,700 (seasonally adjusted) in February 2008, the State Labor Department reported today. Since the beginning of New York’s current economic expansion in July 2003, the state has added 361,400 private sector jobs.

New York State’s unemployment rate, after seasonal adjustment, was 4.5 percent in February 2008, down from 5.0 percent in January. New York City’s seasonally adjusted unemployment rate was 4.1 percent in February 2008, down from 5.7 percent in January 2008. The rate in the balance of the state outside New York City was 4.7 percent in February 2008, up from 4.5 percent in January 2008.

“In February 2008, New York State’s private sector job count experienced a small decline, like the nation as a whole. In addition, the state’s seasonally adjusted unemployment rate decreased in February, and was below the comparable national rate,” said Peter Neenan, director of the Division of Research and Statistics.

Note: When comparing different months, seasonally adjusted data provide the most valid comparison, for example, January 2008 versus February 2008. Non-seasonally adjusted data are valuable in year-to-year comparisons of the same month, for example, February 2007 versus February 2008.

1) Unemployment rates (seasonally adjusted):

New York State’s unemployment rate, after seasonal adjustment, was 4.5 percent in February 2008, down from 5.0 percent in January. In February 2007, the state’s rate was 4.4 percent. The nation’s rate was 4.8 percent in February 2008, down from 4.9 percent in January. In February 2007, the nation’s rate was 4.5 percent. In New York City, the unemployment rate was 4.1 percent in February 2008, down from 5.7 percent in January. In February 2007, the city’s rate was 4.8 percent. The sharp drop in the city’s rate in February 2008 departed significantly from recent monthly trends. Since these model estimates are based, in part, on sample-based surveys conducted by the federal government, there is a risk of sampling error. This suggests that at least a portion of the change from the city’s January 2008 rate was a statistical anomaly.

Unemployment Rates (seasonally adjusted)

				February 2008				January 2008				February 2007
New York State				4.5				5.0				4.4
United States				4.8				4.9				4.5
New York City				4.1				5.7				4.8
NYS, excluding NYC				4.7				4.5				4.2

2) Job data (seasonally adjusted):

New York State and the nation, January 2008 - February 2008:

The number of private sector jobs in New York State decreased by 6,800, or 0.1 percent, to 7,268,700 in February 2008, on a seasonally adjusted basis. Nationally, the number of private sector jobs decreased by 0.1 percent over the same period. After seasonal adjustment, the number of nonfarm jobs in the state decreased over the month by 6,200, or 0.1 percent, to 8,779,400 in February 2008. Nationally, the number of seasonally adjusted nonfarm jobs decreased over the month by less than 0.1 percent.

3) Nonfarm jobs since February 2007 (not seasonally adjusted:

Total nonfarm jobs	+80,000
Private sector jobs	+67,700

Since February 2007, the number of nonfarm jobs in New York State increased by 80,000, or 0.9 percent, and the number of private sector jobs increased by 67,700, or 1.0 percent. Nationally, the number of nonfarm jobs increased by 0.6 percent and the number of private sector jobs increased by 0.5 percent between February 2007 and February 2008.

Educational and health services added the largest number of jobs (+39,900) over the February 2007-February 2008 period, with most of the increase in health care and social assistance (+31,900). Employment also increased in leisure and hospitality; government; trade, transportation and utilities; construction; other services; information; professional and business services; and financial activities.

Manufacturing (-15,800) registered the largest over-the-year drop among declining industries. Manufacturing job losses were mostly in non-durable goods. The over-the-year decline in non-durable goods employment (-9,800) was centered in chemical manufacturing (-3,800) and apparel manufacturing (-3,300). Employment losses in durable goods (-6,000) were centered in computer and electronic product manufacturing (-1,700) and transportation equipment manufacturing (-1,700). Employment also decreased over the year in natural resources and mining.

Industries With Job Gains:
Educational & Health Services	+39,900
Leisure & Hospitality	+14,600
Government	+12,300
Trade, Transportation & Utilities	+9,700
Construction	+6,500
Other Services	+5,000
Information	+3,500
Professional & Business Services	+3,300
Financial Activities	+1,100
Industries With Job Losses:
Manufacturing	-15,800
Natural Resources & Mining	-100

4) Nonfarm jobs since January 2008 (not seasonally adjusted):

Total nonfarm jobs	+33,300
Private sector jobs	+12,800

In February 2008, New York State had 8,651,500 total nonfarm jobs, including 7,130,200 private sector jobs. From January 2008 to February 2008, the number of nonfarm jobs increased by 33,300 and the number of private sector jobs increased by 12,800. On average, in the previous ten years, the number of nonfarm jobs in New York increased by 48,100 from January to February, and the number of private sector jobs increased by 25,400.

The not seasonally adjusted job count increased over the month in educational and health services (+33,900), government (+20,500), leisure and hospitality (+8,700), other services (+1,200), information (+1,000), and financial activities (+100). The job count decreased over the month in trade, transportation and utilities (-22,900), construction (-8,400), manufacturing (-600), and professional and business services (-200). Natural resources and mining employment was unchanged over the month.

5) New York State nonfarm job highlights since January 2008 (not seasonally adjusted):

Educational and health services

Over-the-month employment increases were mostly due to seasonal gains at colleges, universities and professional schools.

Government

The increase in public sector employment reflected the return of local elementary and secondary schools, as well as public colleges and universities, from winter break.

Leisure and hospitality

Leisure and hospitality employment increased, with hiring focused in accommodation and food services, particularly food services and drinking places.

Other services

This sector’s over-the-month employment gain was centered in religious, grantmaking, civic, professional and similar organizations.

Information

Motion picture and sound recording accounted for February’s gain in sector employment.

Financial activities

Results in this sector were mixed as job gains in finance and insurance just outpaced losses in real estate and rental leasing.

Natural resources and mining

Natural resources and mining employment was unchanged in February.

Professional and business services

Job losses in administrative support services and in management of companies and enterprises outpaced seasonal gains in professional, scientific and technical services.

Manufacturing

Manufacturing’s job count dropped over the month due to losses in non-durable goods, particularly in printing and related support activities.

Construction

Construction sector employment decreased seasonally, especially in specialty trade contractors.

Trade, transportation and utilities

Most of this month's employment decrease reflected seasonal losses in retail trade, particularly in clothing and clothing accessories stores and general merchandise stores.

6) Metropolitan Areas:

Job Growth and Unemployment Rates (not seasonally adjusted):

Albany-Schenectady-Troy: Since February 2007, the number of nonfarm jobs has increased by 500, or 0.1 percent, and the number of private sector jobs has decreased by 500, or 0.2 percent. The area’s unemployment rate was 5.1 percent in February 2008, compared with 5.0 in January and 4.4 in February 2007.

Binghamton: Since February 2007, the number of nonfarm jobs has increased by 800, or 0.7 percent, and the number of private sector jobs has increased by 800, or 0.9 percent. The area’s unemployment rate was 5.7 percent in February 2008, compared with 5.6 in January and 5.3 in February 2007.

Buffalo-Niagara Falls: Since February 2007, the number of nonfarm jobs has increased by 2,200, or 0.4 percent, and the number of private sector jobs has increased by 300, or 0.1 percent. The area’s unemployment rate was 6.3 percent in February 2008, compared with 6.1 in January and 5.4 in February 2007.

Glens Falls: Since February 2007, the number of nonfarm jobs has increased by 800, or 1.5 percent, and the number of private sector jobs has increased by 700, or 1.7 percent. The area’s unemployment rate was 6.5 percent in February 2008, compared with 6.1 in January and 5.6 in February 2007.

Ithaca: Since February 2007, the number of nonfarm jobs has increased by 500, or 0.8 percent, and the number of private sector jobs has increased by 500, or 0.9 percent. The area’s unemployment rate was 3.5 percent in February 2008, compared with 3.9 in January and 3.3 in February 2007.

Kingston: Since February 2007, the number of nonfarm jobs has increased by 300, or 0.5 percent, and the number of private sector jobs has increased by 400, or 0.8 percent. The area’s unemployment rate was 5.4 percent in February 2008, compared with 5.4 in January and 4.5 in February 2007.

Nassau-Suffolk: Since February 2007, the number of nonfarm jobs has increased by 13,800, or 1.1 percent, and the number of private sector jobs has increased by 12,000, or 1.2 percent. The area’s unemployment rate was 4.7 percent in February 2008, compared with 4.5 in January and 4.1 in February 2007.

New York City (five boroughs): Since February 2007, the number of nonfarm jobs has increased by 46,900, or 1.3 percent, and the number of private sector jobs has increased by 44,900, or 1.4 percent. The area’s unemployment rate was 4.4 percent in February 2008, compared with 6.1 in January and 5.0 in February 2007.

Poughkeepsie-Newburgh-Middletown: Since February 2007, the number of nonfarm jobs has increased by 700, or 0.3 percent, and the number of private sector jobs has increased by 100, or 0.1 percent. The area’s unemployment rate was 5.1 percent in February 2008, compared with 4.9 in January and 4.4 in February 2007.

Putnam-Rockland-Westchester: Since February 2007, the number of nonfarm jobs has increased by 6,300, or 1.1 percent, and the number of private sector jobs has increased by 5,000, or 1.1 percent. The area’s unemployment rate was 4.5 percent in February 2008, compared with 4.4 in January and 3.9 in February 2007.

Rochester: Since February 2007, the number of nonfarm jobs has decreased by 200, or less than 0.1 percent, and the number of private sector jobs has decreased by 1,500, or 0.4 percent. The area’s unemployment rate was 5.7 percent in February 2008, compared with 5.5 in January and 4.9 in February 2007.

Syracuse: Since February 2007, the number of nonfarm jobs has increased by 3,200, or 1.0 percent, and the number of private sector jobs has increased by 2,900, or 1.1 percent. The area’s unemployment rate was 5.7 percent in February 2008, compared with 5.5 in January and 5.1 in February 2007.

Utica-Rome: Since February 2007, the number of nonfarm jobs has increased by 900, or 0.7 percent, and the number of private sector jobs has increased by 600, or 0.6 percent. The area’s unemployment rate was 6.1 percent in February 2008, compared with 5.9 in January and 5.4 in February 2007.

Note: Labor force statistics, including the unemployment rate, for New York and every other state are based on statistical regression models specified by the U. S. Bureau of Labor Statistics. Jobs data for New York are obtained from a survey of 18,000 business establishments. Jobs data exclude agricultural workers, the self-employed, unpaid family workers and domestic workers in private households.

See State and Area Jobs Data

See State and Area Unemployment Rates

Jobs and Unemployment Fact Sheet

Labor Market Overview